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Novosadov [1.4K]
3 years ago
8

Use the following information to prepare a classified balance sheet for Alpha Co. at the end of Year 1. Accounts receivable $ 40

,830 Accounts payable 7,740 Cash 17,500 Common stock 43,000 Land 28,840 Long-term notes payable 24,500 Merchandise inventory 27,750 Retained earnings 39,680
Business
1 answer:
slega [8]3 years ago
5 0

Answer:

Explanation:

                                           Alpha Co.

                                         Balance Sheet

                                     At at Year 1

                                                                 <em>Amount in $</em>

Current Assets

Accounts Receivable                               40,830

Cash                                                          17,500

Inventory                                                   27,750

Total Current Assets                                86,080

Non-Current Assets

Land                                                          28,840

Total Assets                                             <em><u>114,920</u></em>

Current Liabilities

Accounts Payable                                    7,740

Long Term Liabilities

Long Term Note payable                       24,500

Stockholders' Equity

Common Stocks                                     43,000

Retained Earnings                                  39,680

Total liabilities & Stockholders' Equity

( 7,740+24,500+43,000+39,680)         <em><u>114,920</u></em>                                                            

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Cite two types of costs necessary for a real estate development. How does a construction loan differ from a permanent loan?
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Two types of costs necessary for a real estate development is hard costs and soft costs.

Answer: Hard costs and Soft costs

<u>Explanation:</u>

For real estate development there are two types of costs - hard costs and soft costs. Hard costs is the expenses incurred directly for physical construction of the building. Soft costs is for the indirect expenses for the construction of the building.

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8 0
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Answer:

Sample Budget

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Explanation:

The mid aged person who is age of 25 to 30 will have different expenses. He will have to budget his monthly income and routine expenses to identify the savings. The sample budget will include different types of household expenses that a person incurs to live. He might have to budget one off expenses such as party cost, gifts etc. He will have to keep track of groceries and food expenses.

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Al's obtained a discount loan of $78,500 today that requires a repayment of $98,000, 3 years from today. What is the APR
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Answer:

R = 8.2803%

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Explanation:

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The correct answer is (B)

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Answer:

A. Increase liabilities (Accounts payable) by $337.8 million

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